5 Keys to Increasing your Revenue in 2016

Year end, by now most of us have been planning for next year. Budgets, Capital expense planning, and personal goals to name a few. The reason why most people do these exercises are plain and simple. Business efficiencies, Personal development, Marketing plans are ultimately for the same effect; increasing our ability to generate revenue (personal or business). So let’s just cut to the chase, here are 5 areas’ that will help you increase your revenue. Many have found success with these and I hope you will too. Carpe diem!

1) Hire your replacement – Once you have a person that can do what you do, you can focus on other important areas. This is the best way to free your time and allow you to look more holistically at the situation. It also gives you time to develop new revenue streams and develop those around you. You are not really replacing yourself; you’re giving yourself a promotion!

2) Focus on building relationships – All relationships, both inside and outside of work. I mean everybody at work, not just direct subordinates or supervisors, build with vendors, other departments, service providers, the person who hands you your coffee, or whoever you regularly encounter. Building relationships will increase engagement and purpose which will result in improved good will, reputation and loyalty. All of which are linked to revenue stimulation.

3) Terminate your worst employee – Do it! We all have a couple that we hold on to for obscure reasons. Perhaps any one issue by this person isn’t a terminable offense, but they have several that ultimately weight down the business or effect moral. Chronic blunders, questionable attendance, lack of focus, poor chemistry all add up and weigh on the businesses ability to generate revenue. If you “fire” your worst employee (correctly), your staff and profits will appreciate it. Remember Human Capital should add to the business not weigh it down.

4) Be “Present” at everything you do – This is right out of “FISH”. Essentially give everything you can to the activity you are performing. Don’t “phone” it in, make it count. Committee Meetings, Dinner with family, Chamber events are what you make of them and your actions are noticed by others attending. Make what ever preparation is needed for the event a priority and make sure you get the most out of it, or don’t do it at all. Just showing up and not contributing is noticed and not appreciated by those that give. Decide what is worth doing, and if it is not worth doing, DON’T DO IT. Preparedness, ambition and contribution tend to lead to opportunity.

5) Learn to say NO – The number one attended development seminar in 2015 was Time Management according to the AMA, CCL & SBA. Attendees are millennials and seasoned Executives, and everyone in between. Developing and personally managing priorities often come down to one important word. Knowing when to apply it and how to correctly apply it can be an art, but it all starts with you having clear priorities. As Dr Covey says in “First Things First”; “The main thing, is to keep the Main Thing, the MAIN THING” Overly simplified or brilliant? You have to say no to keep on track. Focus and efficiency often leads to increased revenue.

6) Bonus tip!

Do more Charity work – Church, Nursing homes, Food Pantry, or ________ donate resources, funds or time when possible to events or organizations near and dear to your heart or those that align with your industry. Others often notice (and are impressed) and you’ll get a boost emotionally. That emotional boost alone may help your business and your revenue. But in doing this for the right reasons and you may be surprised what opportunities come as a result.